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Waha Capital Completes Acquisition Of 20% Stake In AerCap In Exchange For Certain Aircraft Leasing Assets And $8 Million Net Cash Payment
(11 November 2010)

 

Waha Capital PJSC ("Waha", ADX: WAHA) announced that yesterday it completed the transaction with New York Stock Exchange-listed and Dutch-based AerCap Holdings N.V. ("AerCap", NYSE: AER), which was previously announced on October 25, 2010. As part of this transaction, Waha has acquired approximately 29.8 million new shares in AerCap, which equates to a 20% stake. In exchange, Waha has transferred its 50% interest in the joint venture company AerVenture, a 40% interest in Waha’s own 16-aircraft portfolio and $105 million in cash, $97 million of which is cash freed up through the structure, mainly through additional leverage on the 16-aircraft portfolio.

About Waha Capital

Waha Capital is a leading Abu Dhabi Securities Exchange-listed and Abu Dhabi-based diversified investment holding company. Waha Capital’s strategy is to drive multi-sector business growth and diversification through acquisitions, joint ventures and creation of new business. Its current business portfolio includes big-ticket leasing, financial services, maritime, oil and gas, and real estate development. Waha Capital’s main institutional shareholder is Mubadala Development Company.

About AerCap

AerCap is the world’s leading independent aircraft leasing company. AerCap also provides engine leasing, aircraft management services, aircraft maintenance, repair and overhaul services and aircraft disassemblies. AerCap is headquartered in The Netherlands and has offices in Ireland, the United States, China, Singapore and the United Kingdom.



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